THE JAMAICA VENTURE

CAPITAL PROGRAMME
MARKET AND STRATEGIC PLAN
DEVELOPMENT BANK OF JAMAICA LIMITED
Sponsored by IDB-MIF
THE VENTURE CAPITAL AND PRIVATE
EQUITY INDUSTRY LANDSCAPE
THE VENTURE CAPITAL AND PRIVATE
EQUITY INDUSTRY LANDSCAPE
ECONOMIC ENVIRONMENT
THE VENTURE CAPITAL AND PRIVATE
EQUITY INDUSTRY LANDSCAPE
ECONOMIC ENVIRONMENT

INVESTMENT
THE VENTURE CAPITAL AND PRIVATE
EQUITY INDUSTRY LANDSCAPE
ECONOMIC ENVIRONMENT

INVESTMENT

ENTREPRENEURSHIP
THE VENTURE CAPITAL AND PRIVATE
EQUITY INDUSTRY LANDSCAPE
ECONOMIC ENVIRONMENT

INVESTMENT

ENTREPRENEURSHIP

PRIVATE EQUITY INITIATIVES

THE VENTURE CAPITAL AND PRIVATE
EQUITY INDUSTRY LANDSCAPE
ECONOMIC ENVIRONMENT

INVESTMENT

ENTREPRENEURSHIP

PRIVATE EQUITY INITIATIVES

REGULATORY
THE VENTURE CAPITAL AND PRIVATE
EQUITY INDUSTRY LANDSCAPE
ECONOMIC ENVIRONMENT

INVESTMENT

ENTREPRENEURSHIP

PRIVATE EQUITY INITIATIVES

REGULATORY

R&D
THE VENTURE CAPITAL AND PRIVATE
EQUITY INDUSTRY LANDSCAPE
ECONOMIC ENVIRONMENT

INVESTMENT

ENTREPRENEURSHIP

PRIVATE EQUITY INITIATIVES

REGULATORY

R&D

CAPITAL MARKETS
JAMAICA’
S
MAIN CHALLENGES GAPS
JAMAICA’
S
MAIN CHALLENGES GAPS
 IMPROVE!UNDERSTANDING OF THE!ASSET CLASS

JAMAICA’
S
MAIN CHALLENGES GAPS
 IMPROVE!UNDERSTANDING OF THE!ASSET CLASS

DEVELOP DATA-BASES AND TECHNICAL INFORMATION

ON VENTURE CAPITAL, PRIVATE EQUITY, COMPANIES
AND INVESTORS

JAMAICA’
S
MAIN CHALLENGES GAPS
 IMPROVE!UNDERSTANDING OF THE!ASSET CLASS

DEVELOP DATA-BASES AND TECHNICAL INFORMATION

ON VENTURE CAPITAL, PRIVATE EQUITY, COMPANIES
AND INVESTORS

COORDINATE THE MANY DIFFERENT INITIATIVES

PROMOTING NEW COMPANIES

JAMAICA’
S
MAIN CHALLENGES GAPS
 IMPROVE!UNDERSTANDING OF THE!ASSET CLASS

DEVELOP DATA-BASES AND TECHNICAL INFORMATION

ON VENTURE CAPITAL, PRIVATE EQUITY, COMPANIES
AND INVESTORS

COORDINATE THE MANY DIFFERENT INITIATIVES

PROMOTING NEW COMPANIES

STIMULATE PROFESSIONAL FINANCIAL MANAGEMENT

SERVICES TO COMPANIES

JAMAICA’
S
MAIN CHALLENGES GAPS
JAMAICA’
S
MAIN CHALLENGES GAPS
 INCREASE START-UPS ACCESS TO SERVICE PROVIDERS

JAMAICA’
S
MAIN CHALLENGES GAPS
 INCREASE START-UPS ACCESS TO SERVICE PROVIDERS

PROMOTE CORPORATE GOVERNANCE PRACTICES

JAMAICA’
S
MAIN CHALLENGES GAPS
 INCREASE START-UPS ACCESS TO SERVICE PROVIDERS

PROMOTE CORPORATE GOVERNANCE PRACTICES

INCREASE FOCUS ON INNOVATION AND HIGH-GROWTH

POTENTIAL COMPANIES

JAMAICA’
S
MAIN CHALLENGES GAPS
 INCREASE START-UPS ACCESS TO SERVICE PROVIDERS

PROMOTE CORPORATE GOVERNANCE PRACTICES

INCREASE FOCUS ON INNOVATION AND HIGH-GROWTH

POTENTIAL COMPANIES

STIMULATE LOCAL PENSION FUNDS INVESTMENT IN VC/PE

JAMAICA’
S
MAIN CHALLENGES GAPS
 INCREASE START-UPS ACCESS TO SERVICE PROVIDERS

PROMOTE CORPORATE GOVERNANCE PRACTICES

INCREASE FOCUS ON INNOVATION AND HIGH-GROWTH

POTENTIAL COMPANIES

STIMULATE LOCAL PENSION FUNDS INVESTMENT IN VC/PE

DEVELOP SPECIFIC LEGAL AND REGULATORY FRAMEWORK

FOR VENTURE CAPITAL FUNDS

JAMAICA’
S
MAIN CHALLENGES GAPS
JAMAICA’
S
MAIN CHALLENGES GAPS
 PROMOTE LOCAL FUND MANAGERS AND VENTURE
CAPITAL FUNDS

JAMAICA’
S
MAIN CHALLENGES GAPS
 PROMOTE LOCAL FUND MANAGERS AND VENTURE
CAPITAL FUNDS

FOSTER NETWORKS FOR ANGEL INVESTORS AND

DIASPORA CONNECTION

JAMAICA’
S
MAIN CHALLENGES GAPS
 PROMOTE LOCAL FUND MANAGERS AND VENTURE
CAPITAL FUNDS

FOSTER NETWORKS FOR ANGEL INVESTORS AND

DIASPORA CONNECTION

BUILD EXPERIENCE IN DEVELOPING THE VENTURE

CAPITAL INDUSTRY

JAMAICA’
S
MAIN CHALLENGES GAPS
THE ECOSYSTEM APPROACH
THE ECOSYSTEM APPROACH
THE ECOSYSTEM APPROACH

DEMAND MARKET’S)INTEREST)IN)INVESTING)IN)COMPANIES
THE ECOSYSTEM APPROACH

DEMAND MARKET’S)INTEREST)IN)INVESTING)IN)COMPANIES

EXISTING)INVESTMENT)OPPORTUNITIES)AND)THE)CREATION)
SUPPLY AND)DEVELOPMENT)OF)NEW)BUSINESSES
THE ECOSYSTEM APPROACH

DEMAND MARKET’S)INTEREST)IN)INVESTING)IN)COMPANIES

EXISTING)INVESTMENT)OPPORTUNITIES)AND)THE)CREATION)
SUPPLY AND)DEVELOPMENT)OF)NEW)BUSINESSES

REGULATORY)SYSTEM,)THE)EFFICIENCY)OF)
LIQUIDITY)MECHANISMS,)MACROECONOMIC)
ENVIRONMENT CONDITIONS,)THE)AVAILABILITY)OF)HIGHLY)
QUALIFIED)PROFESSIONALS
BRAZIL’S
BRAZIL’S

STRUCTURED PROGRAM TO DEVELOP THE VENTURE CAPITAL INDUSTRY IN BRAZIL

BRAZIL’S

STRUCTURED PROGRAM TO DEVELOP THE VENTURE CAPITAL INDUSTRY IN BRAZIL

ECOSYSTEM APPROACH METHODOLOGY

BRAZIL’S

STRUCTURED PROGRAM TO DEVELOP THE VENTURE CAPITAL INDUSTRY IN BRAZIL

ECOSYSTEM APPROACH METHODOLOGY

CONNECTED COMPANIES, FUND MANAGERS AND INVESTORS IN BRAZIL
BRAZIL’S

STRUCTURED PROGRAM TO DEVELOP THE VENTURE CAPITAL INDUSTRY IN BRAZIL

ECOSYSTEM APPROACH METHODOLOGY

CONNECTED COMPANIES, FUND MANAGERS AND INVESTORS IN BRAZIL
ATTRACTED THE MAJOR PENSION FUNDS TO INVEST IN THE ASSET CLASS
BRAZIL’S
CASE STUDY AND LESSONS LEARNED
BRAZIL’S
CASE STUDY AND LESSONS LEARNED

FOCUS ON RESULTS, RATHER THAN INTENTIONS

BRAZIL’S
CASE STUDY AND LESSONS LEARNED

FOCUS ON RESULTS, RATHER THAN INTENTIONS

BOARD OF DIRECTORS COMMITMENT

BRAZIL’S
CASE STUDY AND LESSONS LEARNED

FOCUS ON RESULTS, RATHER THAN INTENTIONS

BOARD OF DIRECTORS COMMITMENT

INTERNATIONAL SUPPORT
BRAZIL’S
CASE STUDY AND LESSONS LEARNED

HIGH-LEVEL STAKEHOLDERS CONSULTATION AND COMMITMENT

BRAZIL’S
CASE STUDY AND LESSONS LEARNED

HIGH-LEVEL STAKEHOLDERS CONSULTATION AND COMMITMENT

LISTEN TO THE MARKET

BRAZIL’S
CASE STUDY AND LESSONS LEARNED

HIGH-LEVEL STAKEHOLDERS CONSULTATION AND COMMITMENT

LISTEN TO THE MARKET

INFORMATION: THE MAIN TOOL TO DECISION-MAKING

BRAZIL’S
CASE STUDY AND LESSONS LEARNED

DEDICATED TEAM, TRAINED AND MOTIVATED

BRAZIL’S
CASE STUDY AND LESSONS LEARNED

DEDICATED TEAM, TRAINED AND MOTIVATED

ULTIMATE GOAL: GOVERNMENT BECOMES UNNECESSARY

BRAZIL’S
CASE STUDY AND LESSONS LEARNED

ITSIMPLE!
MAKE
THE JAMAICA VENTURE
CAPITAL PROGRAM
KEEP THE ECOSYSTEM APPROACH

CONSIDER THE LONG TERM SUSTAINABILITY OF THE ACTIONS

CREATING THE RIGHT INCENTIVES

IMPORTANT! REGULATORY FRAMEWORK

 COMPONENT I
JVCP
KNOWLEDGE DEVELOPMENT

OBJECTIVES
To foster greater understanding of venture capital and private equity ’
s role in supporting

entrepreneurship and innovation in Jamaica.

Promote the professional development of the industry through training, workshops, conferences

and awards.

Act as a platform for dialogue on regulatory and policy issues relating to VC and PE.

To foster long term education in venture capital and private equity among universities, incubators

and research institutes.

 COMPONENT I
JVCP
KNOWLEDGE DEVELOPMENT

PROJECTS

Venture Capital Training Workshops for companies, investors and fund managers

Venture Capital Training Abroad Training for community leaders

Venture Capital Strengthen entrepreneurship courses and foster venture

in Education System capital classes within universities
 COMPONENT II
JVCP
INFORMATION

OBJECTIVES

Increase transparency and understanding about jamaica ’

s venture capital market.

Support and speed the decision making process.

Measure results on program goals and facilitate evaluations of these efforts.

Help keep track of successes and failures so that lessons can be learned and not

repeated in the future.

 COMPONENT II
JVCP
INFORMATION

PROJECTS

Creation of a local!Venture Capital and Private Equity Association.

Local database on investors, funds, fund managers, companies, investments, exits and
returns.: Annual VC/PE Reports issued (status and numbers of the Jamaican industry
regarding investors, venture and private equity funds, companies invested and divested,
as well as local practices progress).
 COMPONENT III
JVCP
ENTREPRENEURSHIP

OBJECTIVES

Coordinate the ongoing entrepreneurial initiatives in Jamaica adding professional coaching to

companies as well as helping the current schemes to find the best way to approach potential
investors for these companies.

Increase the practical venture capital experience among entrepreneurs.

Foster a service providers network to increase the access to this expertise by young companies.

Include innovation as a key element in companies’

competitiveness and growth potential.
 COMPONENT III
JVCP
ENTREPRENEURSHIP

PROJECTS

Venture Innovative, high-growth potential companies (from any sector and innovation profile)

Forums presented to qualified investors as well as investors prepared to invest in the asset class.!

Service Provide legal support and audits for selected companies, starting with the ones in
Providers DBJs Venture Forums and the Incubators.

Innovation Awards promoting innovation and entrepreneurship in Jamaica, or DBJ will select the major Award
Awards Scheme and the one that fosters more entrepreneurship and innovation in Jamaica to sponsor.
 COMPONENT IV
JVCP
INVESTMENT

OBJECTIVES

Include venture capital as an important asset class for local investors.

Ensure that potential investors are prepared and aligned with best practices to invest in venture

capital in Jamaica.

Foster and develop the local fund management capacity.

Foster the creation of angel networks and diaspora connection.

 COMPONENT IV
JVCP
INVESTMENT

PROJECTS

Creation of local venture capital funds: establish local venture capital funds ideally through
partnerships between international fund managers and local firms.

Foster the creation of an institutional investor network.

Foster the establishment of local and regional Angel Networks.

 COMPONENT V
JVCP
INSTITUTIONAL DEVELOPMENT

OBJECTIVES

Strengthen the program by supporting DBJ in the coordination of the JVCP.

Train the management team and program partners keeping them updated on venture capital and

private equity international best practices.

Add external and experienced support in specific projects of the program.

 COMPONENT V
JVCP
INSTITUTIONAL DEVELOPMENT

PROJECTS

Courses and training for DBJ ’

s investment team.

Consultants: to help with business coaching in the Venture Forums and fund analyses.

Foster the establishment of local and regional Angel Networks.

Subscription to specialized industry-specific magazines and newsletters.

2016
EXPECTED RESULTS
2016
EXPECTED RESULTS
INVESTORS, FUND MANAGERS AND ENTREPRENEURS WITH DEEP
UNDERSTANDING ON VENTURE CAPITAL ASSET CLASS
 INVESTORS, FUND MANAGERS AND ENTREPRENEURS WITH DEEP
UNDERSTANDING ON VENTURE CAPITAL ASSET CLASS

LOCAL FUND MANAGERS PARTNERING WITH INTERNATIONAL FUND MANAGERS

AND LAUNCHING FUNDS TO INVEST IN JAMAICAN COMPANIES
 INVESTORS, FUND MANAGERS AND ENTREPRENEURS WITH DEEP
UNDERSTANDING ON VENTURE CAPITAL ASSET CLASS

LOCAL FUND MANAGERS PARTNERING WITH INTERNATIONAL FUND MANAGERS

AND LAUNCHING FUNDS TO INVEST IN JAMAICAN COMPANIES

LOCAL INSTITUTIONAL AND CORPORATE INVESTORS INVESTING IN THE ASSET CLASS

 INVESTORS, FUND MANAGERS AND ENTREPRENEURS WITH DEEP
UNDERSTANDING ON VENTURE CAPITAL ASSET CLASS

LOCAL FUND MANAGERS PARTNERING WITH INTERNATIONAL FUND MANAGERS

AND LAUNCHING FUNDS TO INVEST IN JAMAICAN COMPANIES

LOCAL INSTITUTIONAL AND CORPORATE INVESTORS INVESTING IN THE ASSET CLASS

JAMAICA INCLUDED IN THE VENTURE CAPITAL MAP (LAVCA SCORECARD,LAUNCHING THE

JAMAICAN VC ASSOCIATION, PROVIDING INFORMATION ON THE JAMAICAN INDUSTRY)
 INVESTORS, FUND MANAGERS AND ENTREPRENEURS WITH DEEP
UNDERSTANDING ON VENTURE CAPITAL ASSET CLASS

LOCAL FUND MANAGERS PARTNERING WITH INTERNATIONAL FUND MANAGERS

AND LAUNCHING FUNDS TO INVEST IN JAMAICAN COMPANIES

LOCAL INSTITUTIONAL AND CORPORATE INVESTORS INVESTING IN THE ASSET CLASS

JAMAICA INCLUDED IN THE VENTURE CAPITAL MAP (LAVCA SCORECARD,LAUNCHING THE

JAMAICAN VC ASSOCIATION, PROVIDING INFORMATION ON THE JAMAICAN INDUSTRY)

LOCAL ENTREPRENEURS BEING INVESTED BY LOCAL AND INTERNATIONAL

INVESTORS AND SELLING THEIR PRODUCTS AND SERVICES REGIONALLY.
FINAL
REMARKS
THIS IS A
LONG TERM INDUSTRY
THIS IS A
LONG TERM INDUSTRY
PATIENCE IS KEY
!
 L I E S A N
C H I M P S ,
P P R O A O L D E R
T E M A T A K E H
C O S Y S A J O R S
THE E T H E M
E N T O F
G A G E M U T O
EN I N G Y O
S I N V I T
D B J I
SO
 L I E S A N
C H I M P S ,
P P R O A O L D E R
T E M A T A K E H
C O S Y S A J O R S
THE E T H E M
E N T O F
G A G E M U T O
EN Y O
!
I T I N G

D
I N V
R
B J I S
A
SO D

O N B O
CO M E
JAMAICA HAS A VIBRANT AND YOUNG
ENTREPRENEURIAL ENVIRONMENT
JAMAICA HAS A VIBRANT AND YOUNG
ENTREPRENEURIAL ENVIRONMENT

LETS TAKE ADVANTAGE OF IT AND

ENCHANT THE WORLD !

THANK
YOU !